According to the Mortgage Bankers’ Association (MBA), 8.44 percent of homeowners missed at least one payment in the second quarter of 2011, putting 0.12 more homeowners at risk for foreclosure in Q2 of 2011 than were believed to be at risk in Q1. In a “normal market,” only about 1.1 percent of homeowners are delinquent at any given time, says Read full article »
Tag archives for Foreclosure Process
Number of Americans at Risk for Foreclosure on the Rise
Average Foreclosure Timeline 587 Days
Foreclosure processing timelines are just getting longer, with the average loan in foreclosure today delinquent by 587 days. And while the number of actual foreclosures is down, the number of loans in foreclosure or “seriously delinquent” (more than 90 days past due) has been reported as up 12.8 percent over last year, though it should be noted that this number Read full article »
Study Reveals Original Foreclosure-Related Documents Often Do Not Exist
If a lender has not been paid in months or years and believes that they can convert a property to a performing investment, then they are going to have a very high interest in foreclosing. However, in many cases, if they had to use real, legitimate, original documents to carry out that process, it simply would never happen. Why? Because Read full article »
Real Estate Scam of the Day: Foreclosure Scammer to Spend Next 25 Years in Jail
A man who promised California homeowners foreclosure settlements and eventual mortgage payoff will spend the next 25 years behind bars. Jeff McGrue promised homeowners that he would help them pay off their mortgages and alleged that he had worked out deals with banks. However, when happy homeowners sent him their monthly payments to resolve their foreclosures, McGrue kept the cash Read full article »
Oregon Foreclosure Sale Voided Thanks to New Anti-MERS Ruling
In March of this year, Oregon foreclosed home sales plummeted in response to a federal judge questioning the legality of foreclosures through the Mortgage Electronic Registration System (MERS). Not too long after, Judge Owen Panner, also a federal judge, blocked a foreclosure due to recording issues related to MERS and struggling homeowners everywhere wondered if their own homes might also Read full article »
The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
-
Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
